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Cost Sharing |

On March 23rd of 2010, President Obama signed the Affordable Care Act alongside Vice President Biden. Obamacare alleviated the financial pressures of healthcare for over 100 million people.

As a direct result of Obama care insurance companies can no longer deny coverage or increase premiums based on pre-existing medical conditions and young people can continue to receive medical cover under parental plans until the age of 26.

Despite this marked progress, the Affordable Care Act has provoked controversy and attack. But President Biden is set to protect affordable care and build upon it.

By offering choice, cost reductions, and systematic healthcare simplification, the Biden administration promises every American access to the affordable health insurance they deserve.

Part of this plan is the maintenance of effective Cost-Sharing Reductions. This article will provide an essential overview of Cost-Sharing Reductions, who they're for, and how they work.

What are cost-sharing reductions?

Cost-Sharing Reductions are designed to lower the amount individuals pay out-of-pocket for healthcare and medical services. In simple terms, Cost-Sharing Reductions are healthcare subsidies paid for by the government.

These reductions function in a similar way to Premium Tax Credits. Cost-Sharing Reductions function to lower the costs of monthly insurance rates for individuals.

Individuals are therefore better able to access the essential healthcare services that they need. Additionally, those who qualify for both subsidies can maintain substantiative savings.

How to qualify for cost-sharing reductions

To qualify for Cost-Sharing Reductions your income must be equal to, or below, 2.5 x the Federal Poverty Line. To access these savings individuals are required to choose a silver plan.

Eligibility is categorized into income-based brackets according to an individual's region of residency.

There are three regional distinctions. Contiguous states, Alaska, and Hawaii. Each region issues healthcare reductions according to slightly different income-differentiated brackets.

Eligibility for those residing in the Contiguous states

To be eligible for Cost-Sharing Reductions, individuals living in the Contiguous states (meaning not Alaska or Hawaii) must fall into one of the eight income brackets listed below.

1 $11,880 - $29,700
2 $16,020 - $40,050
3 $20,160 - $50,400
4 $24,300 - $60,750
5 $28,440 - $71,100
6 $32,580 - $81,450
7 $36,730 - $91,825
8 $40,890 - $102,225

Eligibility for those residing in Alaska

Income brackets for those residing in Alaska are as follows:

1 $20,479 - $51,198
2 $27,628 - $69,070
3 $34,776 - $86,940
4 $41,924 - $104,810
5 $49,073 - $122,683
6 $56,194 - $140,485
7 $63,370 - $158,425
8 $70,546 - $176,365

Eligibility for those residing in Hawaii

Similarly, income brackets for those residing in Hawaii are also slightly different:

1 $18,865 - $47,163
2 $25,433 - $63,583
3 $32,002 - $80,005
4 $38,571 - $96,428
5 $45,140 - $112,850
6 $51,709 - $129,273
7 $58,277 - $145,693
8 $64,874 - $162,185

Income-based savings

Cost-Sharing Reductions aim to provide income-based healthcare savings. The lower somebody's income the more they can save on any out-of-pocket medical or healthcare expenses.

Accordingly, those members of the population with lower incomes qualify for greater Cost-Sharing Reductions.

Those whose income falls below the minimum income bracket could be eligible for Medicaid in some states. Individuals in this situation need to contact their state Federal Health Insurance Marketplace. To speak with an agent, call .

How to calculate health-care savings

Health insurance is a minefield and can be very confusing. is an online insurance marketplace where consumers can obtain pricing information related to the upcoming BidenCare reforms.

This is a simple way to price-compare several different insurance providers at once, in order to ensure maximum savings.

Cost-Sharing Reductions for accessible healthcare

Cost-Sharing Reductions are just one facet of the accessible healthcare agenda. These subsidies form part of the government's initiative to ensure fair and equal health care for all Americans. Healthcare reforms, under the Affordable Care Act, are set to continue under the Biden administration, which aims to improve health outcomes and lower medical costs.

Biden is advocating for healthcare as a right for all, not a privilege for just a few. That means expanding access to affordable medical care for all regardless of race, gender, religion, or socio-economic background.

The aim is to provide peace of mind through accessible, quality healthcare.

How Does it Work?

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Limitations, copayments, and restrictions may apply.

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There are several factors that impact your monthly premium; including your age, geographical location, annual income, dependents, and the type of plan you choose. Monthly premiums do not include out-of-pocket costs. is operated by QuoteLab, LLC, which is an independent broker and is not a federal or state insurance Marketplace or other website. It does not provide access to any federal or state marketplace or exchange. This website is owned and operated by QuoteLab, LLC, a licensed insurance agency, NPN #19911386. Invitations for application for health insurance are made through QuoteLab, LLC, only where licensed and appointed. License numbers are available upon request and are provided where required by law. QuoteLab's license information can be found at

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